Netlist ( (NLST) ) has realeased its Q3 earnings. Here is a breakdown of the information Netlist presented to its investors.
Netlist, Inc. is a leading innovator in advanced memory and storage solutions, known for its patented technologies that drive advancements in artificial intelligence and computing. The company recently reported its financial results for the third quarter of 2024, showcasing a significant increase in net sales and progress in its legal battles.
Netlist achieved a remarkable 140% increase in net sales for the third quarter of 2024, amounting to $40.2 million compared to $16.7 million in the same quarter the previous year. The company also secured a $303 million damages award against Samsung, marking a significant victory in defending its intellectual property. Additionally, Netlist raised $15 million after the quarter, enhancing its financial position.
Despite the increased sales and legal success, Netlist reported a net loss of $9.4 million for the third quarter, an improvement from the $17.3 million loss in the same period last year. The company’s gross profit also improved slightly to $1.1 million from $0.4 million a year ago. For the nine months ending September 28, 2024, Netlist recorded net sales of $112.8 million and a net loss of $41.2 million, both showing better performance compared to the prior year.
Looking forward, Netlist remains focused on advancing its strategic initiatives, particularly in defending and monetizing its intellectual property. The company’s management expresses optimism about future growth opportunities amid ongoing challenges in the competitive landscape of memory and storage solutions.
